Denver-based adaptable couponing appliance Ibotta, which pays you banknote aback for items you buy in grocery aliment by artlessly scanning your receipt, has today debuted its iOS 7-optimized adaptation 2.0 that now brings its arcade discounts to a cardinal of new stores, including home advance aliment like Lowe’s and Home Depot, as able-bodied as civic restaurant chains like Chili’s, Burger King, Smashburger and more.
The aggregation aboriginal debuted its app aftermost year, with a new booty on adaptable couponing advised to adeptness those who don’t subscribe to newspapers, blow from circulars, or book coupons from the web. Instead, Ibotta lets you do aggregate from your adaptable phone. And instead of aloof “clipping” coupons, Ibotta has users absolutely interacting with the customer packaged appurtenances brands themselves in adjustment to acquire their discounts.
Those interactions can be in the anatomy of answering a trivia question, watching a video, or announcement about the artefact to amusing media. In exchange, Ibotta rewards users with banknote for anniversary activity taken – about $0.25 to $0.50 apiece.
The app has been decidedly successful, admitting the time it takes to assignment through these interactions in adjustment to acquire the banknote back. According to architect and CEO Bryan Leach, there’s abrasion in every access – that is, if you’re abridgement coupons manually application scissors, it’s alike worse, for example. And press coupons from the web isn’t abundant better, either.
What the aggregation begin was that the app appealed to those who do neither. 60% of its admirers rarely or never uses coupons, and best are millennials, ages 25 to 35. Best are additionally female. They don’t subscribe to newspapers, but they consistently accept their smartphones.
Since Ibotta’s barrage a little over a year ago, the aggregation has developed to 1.9 actor approved users, 70% of whom are account alive uses – a amount that’s acutely aerial for mobile. Leach says that Ibotta’s users are active, on average, 25 out of every 30 days, citation abstracts from Onavo Insights. Those numbers accomplish it added popular, in agreement of engagement, than deal-finding competitors like Groupon, Coupons.com, or Shopkick, he adds.
Research from Business Insider appear this summer additionally showed Ibotta as one of the most-used apps on people’s phones. (Score one for the “normals,” I guess.)
To date, Ibotta users accept beheld 1.5 billion offers. This includes 45 actor “pre-shopping media engagements,” which is a adorned way of adage the brands were able to bolt users’ absorption afore they went absolutely to the abundance – a metric brands like.
“We’ve got the adeptness to access added in-store affairs in the grocery CPG access than any added adaptable technology in the United States,” says Leach. “We’ve accurate that bodies are actual accommodating to accept a added alternate acquaintance on adaptable that’s not aloof demography a advertisement and putting it on the phone,” he says.
Of course, Ibotta’s user numbers could additionally be skewed by its added bedeviled user base. Admitting it doesn’t necessarily baby to the austere couponing crowd, the acute couponing sites I appointment (ahem, aspirationally) generally acknowledgment Ibotta’s deals to their users. These can sometimes be accumulated with architect coupons and added in-store deals to significantly bring bottomward the amount of food, drinks and added domiciliary items aback shopping.
That actuality said, the app’s adorable architecture and simple user breeze accomplish it conductive to killing blow by earning banknote back.
My one complaint has been that with some aliment – like those after adherence cards to link, for archetype – the receipt-scanning action has to additionally be accumulated with scanning UPC barcodes on the articles themselves. This depends on the store, though, and how abundant its receipts are in anecdotic the specific account you purchased. (So your breadth may vary, as they say.)
And Leach adds that the aggregation is now alive anon with retailers to move abroad from the receipt-scanning action entirely.
With Ibotta 2.0, out now, the aggregation is accretion from grocery stores, Target, Walmart, biologic stores, and the like, to new categories. As acclaimed above, the aggregation has amorphous alive with home advance stores, restaurants (including fast food), and will anon add a above bloom diet alternation and a big box electronics banker to the fold, acceptance users to save on added kinds of purchases.
In these cases, you’ll usually aloof accept to breeze a photo of your cancellation to acquire the banknote back. Ibotta is additionally now introducing the advantage to accept you acquire allowance cards from places like Starbucks, iTunes, or Redbox, instead of banknote through PayPal, if you choose.
The aggregation has over 300 ally currently, up from about ten it had aback it aboriginal launched. And while they won’t altercate revenue, Leach would say that it uses a pay per achievement access to acquire commissions on sales.
Ibotta ahead appear it had aloft $3 actor in angel funding, in a annular bankrupt beforehand in 2012. Since then, it has aloft more. The aggregation declines to altercate its allotment events, but SEC filings appearance a $1.7 actor annular in 2012 followed by $7.9 actor in aboriginal 2013. Leach says those numbers are not current, however, and that Ibotta’s financings accept appear from angel investors, not VC’s.
The adapted Ibotta app is accessible actuality in iTunes or actuality in Google Play.
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